INPX Inpixon

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 14A INFORMATION

 

Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No.      )

 

Filed by the Registrant	☒
Filed by a Party other than the Registrant	☐

 

Check the appropriate box:

 

☐	Preliminary Proxy Statement
☐	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☐	Definitive Proxy Statement
☒	Definitive Additional Materials
☐	Soliciting Material Pursuant to §240.14a-12

 

INPIXON

(Name of Registrant as Specified In Its Charter)

 

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

 

☒	No fee required
☐	Fee paid previously with preliminary materials.
☐	Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

 

 

 

 

Inpixon
2479 E. Bayshore Road, Suite 195
Palo Alto, CA 94303
(408) 702-2167

 

Commencing on August 18, 2023, Inpixon made the following communications to certain of its stockholders.

 

NOTICE OF POSTPONEMENT OF SPECIAL MEETING
PLEASE VOTE YOUR PROXY TODAY

 

August 18, 2023

 

Dear Stockholder:

 

You recently received proxy materials relating to several proposals to be voted on by stockholders of Inpixon (the “Company”) at a Special Meeting of Stockholders on August 3, 2023. This important notice is to inform you that the Special Meeting has been postponed until September 8, 2023, at 10:00 a.m., Pacific Time, to allow stockholders additional time to exercise their voting rights by submitting their voting instructions. The postponed meeting will be completely virtual, and the live audio webcast for the Special Meeting will be available by visiting www.virtualshareholdermeeting.com/INPX2023.

 

The purpose of the postponed Special Meeting is to vote upon the following proposals:

 

(1) To approve an amendment to our Articles of Incorporation to effect a reverse stock split of our outstanding common stock at a ratio between 1-for-2 and 1-for-50, to be determined at the discretion of our Board of Directors (the “Board”), for the purpose of complying with the Nasdaq Listing Rules, subject to the Board’s discretion to abandon such amendment.

 

In addition to increasing the market price of our common stock so that we can meet the continued listing requirements of Nasdaq and enhancing the appeal of our common stock to the financial community with a high priced stock, the implementation of a reverse split will also allow us to satisfy the minimum bid price of the initial listing requirements of Nasdaq. As described in our proxy statement, the Board has authorized management to evaluate various strategic transactions concerning our business, the execution of which may require a reapplication for initial listing in accordance with Nasdaq Listing Rule 5110(a). In connection therewith, we recently completed the spin-off and sale of our enterprise apps business in the first quarter of 2023. In addition, we previously announced that we entered into a non-binding letter of intent involving the remainder of our business, followed by the execution of a definitive merger agreement with XTI Aircraft Company and may pursue other opportunities that we believe will increase shareholder approval. While stockholder approval of this proposal is not required to consummate the contemplated transaction with XTI, we currently expect that Nasdaq Rule 5110(a), and the requirement to satisfy initial listing standards, including the bid price requirements for an initial listing will be required.

 

(2) To approve an amendment to our Articles of Incorporation to increase the number of authorized shares of our common stock to up to 1,000,000,000, with such number to be determined at the Board’s discretion.

 

The Board strongly believes that the increase in the number of authorized shares of common stock will provide us with resources and flexibility with respect to our capital structure for various business purposes as the need may arise from time to time. These purposes may include, but are not limited to, establishing strategic relationships or pursuing strategic transactions with other companies, and expanding our business through the acquisition of other businesses or products. Approval of this proposal would enable us to respond promptly to, and take advantage of, market conditions and other favorable opportunities without incurring the delay and expense associated with calling a special stockholders’ meeting to approve a contemplated stock issuance. 

 

 

(3) To approve the issuance of shares of our common stock upon exercise of the warrants to purchase common stock (the “Warrants”) issued to accredited investors pursuant to a warrant purchase agreement, dated May 15, 2023, in accordance with the terms of the Warrants, as required by and in accordance with Nasdaq Listing Rule 5635(d).

 

(4) To approve the adjournment of the Special Meeting if necessary or advisable.

 

This letter was sent to you because you held shares of the Company on the record date and we have not yet received your vote. In order to avoid further delay of the meeting, please vote today. Your vote is extremely important, no matter how many shares you hold.

 

For the reasons described in this letter and as set forth in the proxy statement, dated July 3, 2023, the Board of Directors unanimously recommends that you vote “FOR” each of the Proposals. Please vote via the internet or by phone as soon as possible, or alternatively, please sign, date, and return the enclosed voting instruction form as soon as possible.

 

If you need assistance with voting your Inpixon shares, please call our proxy solicitation agent, D.F. King toll-free at (800) 829-6551. On behalf of your Board of Directors, we thank you for your ongoing support of, and continued interest in, Inpixon.

 

	Sincerely yours,
	/s/ Nadir Ali.
	Nadir Ali
	Chief Executive Officer

 

 

 

---